ES Journal Archive (2009 - 2010)

adadadog · Jan 4, 2010

The market is still very bullish. The most recent GDP number, and today's construction number are both disappointing yet the market jut brushed it off.

flatron · Jan 4, 2010

Quote from adadadog:

The market is still very bullish. The most recent GDP number, and today's construction number are both disappointing yet the market jut brushed it off.

the market likes to brush off bad news.
If extremely bad news comes out it will take a hit, although that hit is a buying opportunity as they will indeed put them points back on, one way or another, lol.

tortoise · Jan 4, 2010

This thread is quiet today.

Shock and awe?

Lawrence Chan · Jan 4, 2010

First day of the year is not a good day to trade for daytrading purpose.

There is no reference point to lean on.

Watching.

JSSPMK · Jan 4, 2010

6 composite did point out a breakout that already happened

OTCkrak · Jan 4, 2010

accumulating shorts here

tortoise · Jan 4, 2010

Quote from OTCkrak:

accumulating shorts here

Why?

Builder17 · Jan 4, 2010

todays action, esp in reference to last week and friday, confuses me. mostly waiting. tho i did i just buy some SPY puts.

tortoise · Jan 4, 2010

Quote from Lawrence Chan:

First day of the year is not a good day to trade for daytrading purpose.

There is no reference point to lean on.

Watching.

Curious -- Why is previous price action at this level insufficient as a reference point? Especially when it's so recent? Have you found a date change to be that consequential?

Thanks

volente_00 · Jan 4, 2010

Quote from tortoise:

Curious -- Why is previous price action at this level insufficient as a reference point? Especially when it's so recent? Have you found a date change to be that consequential?

Thanks

I think he is inferring that recent price action has been distorted because of low volume and today the big boys are back making things are hard to read.